Coca-Cola’s homegrown mango drink, Maaza, has crossed the billion-dollar sales mark in 2024, making it the company’s 30th billion-dollar brand globally. The Atlanta-based beverage giant announced this milestone during its post-earnings investor call on Tuesday.
With this achievement, Maaza becomes Coca-Cola’s third billion-dollar brand in India, following the success of Thums Up and Sprite. The company credited strong market demand and expanded distribution networks for the brand’s growth.
Coca-Cola Chairman and CEO James Quincey highlighted India’s contribution to the company’s global performance, stating, “In India, our business rebounded nicely during the quarter, and we grew volume.” He emphasized that the market continues to be “vibrant and competitive”, with significant potential for future growth.
The company added 440,000 new retail outlets in India in 2024, strengthening its reach in both urban and rural markets. It also reported a 2% increase in unit case volume during the October-December quarter, led by key markets including China, Brazil, and the United States. For the full year, Brazil, India, and Mexico were the primary drivers of volume growth.
In December, Coca-Cola sold a 40% stake in Hindustan Coca-Cola Beverages to the Jubilant Bhartia Group, marking a strategic shift in its India operations. Coca-Cola President and CFO John Murphy described the move as a step towards finding a “partner as ambitious as we are to capture opportunities and build capacities over time.”
Besides Maaza, Coca-Cola continues to strengthen its Minute Maid juice and Georgia coffee businesses in India. The company remains optimistic about its long-term prospects in the country, calling India one of its most promising markets globally.
With Maaza now firmly positioned in the billion-dollar club, Coca-Cola aims to further leverage India’s growing beverage consumption trends, driven by rising disposable incomes, changing consumer preferences, and increasing penetration in smaller towns and rural areas.